Anthropic faces investor pressure to cut IPO valuation

Investors are questioning Anthropic's planned IPO, potentially forcing the AI startup to lower its $1.5 trillion valuation target or delay its November listing amid a sharp technology stock sell-off. The roadshow, expected to begin the week of November 9, faces pressure from investors seeking a more attractive price, with some viewing the valuation as too high. Anthropic may need a larger discount to secure commitments, given its quarterly losses and capital needs, while its October revenue figure remains undisclosed. The broader AI market has been hit by a two-day sell-off following US midterm elections, with tech stocks underperforming the S&P 500 by 10.7 percent over the past month. A delay could fuel concerns about the AI ecosystem and impact heavily tech-weighted markets, though some analysts expect strong retail demand similar to SpaceX.